MORRISTOWN, N.J. — A $2.5 million renovation at The Club of Morristown, a 36,000-square-foot fitness center in Morristown, N.J., is complete. Renovations include a new salt water pool, exercise equipment and a new full-service spa. The project development team included Fisher Development Associates and the Olnick Organization.
EAST HARTFORD, CONN. — H&H Linens Services Inc. has signed a 23,000-square-foot lease at 45 Belden St. in East Hartford, Conn. from 45 Belden Street Co. LLP. Carl Zoephel and Nicholas Morizio of Colliers International's New Haven, Conn. office represented the landlord in the transaction. Delia Realtors represented the tenant.
TARRYTOWN, N.Y. —Webster Bank has provided $21.3 million in construction and permanent financing for a new, 100,000-square-foot retail center on Tarrytown Road in Tarrytown, N.Y. The loan will finance the ground-up construction of a Super Stop & Shop and retail center, led by the New York-based Robert Martin Co. and Halpern Organization. Developers have broken ground on the project and completion of the first phase is slated for spring 2012.
MANHATTAN — Jones Lang LaSalle has completed construction on two Uniqlo stores in Manhattan which total 153,000 square feet. The locations include the Japanese clothing retailer's New York global flagship at 666 Fifth Ave. and a store at 31 W. 34th St. The Fifth Avenue store opened Oct. 14 and includes a three-story atrium. The 34th Street store opened Oct. 21. New York-based Gensler and Tokyo-based Wonderwall Inc. served as the architects on the project. Fiskaa Engineering, Gilsanz Murray Steficek LLP and Shawmut Design and Construction also participated in the design and construction of the stores. Jones Lang LaSalle was the project manager.
LONG ISLAND CITY, N.Y. —H&R REIT has acquired the 670,000-square-foot Two Gotham Center in Long Island City, closing the deal with a $250 million loan from two life companies. Michael Strober of CB Richard Ellis' Tampa office arranged the financing in a 10-year note at a 4.25 percent interest rate. Darcy Stacom and William Shanahan, with CBRE's investment properties institutional group in New York represented the seller in the transaction.
BOSTON — Construction crews have broken ground on The Kensington, a $170 million residential tower in Boston. The 488,000-square-foot tower, located at 659 Washington St., includes 381 rental apartments and 2,300 square feet of ground retail space. The development team includes Boston-based Kensington Investment Co., National Development and equity partner Northwest Mutual. Suffolk Construction is the contractor for the project and the architectural firm is The Architectural Group. Construction is scheduled for completion in summer 2013.
NEW YORK — Law firm Baker & McKenzie has signed a 15-year lease for 105,803 square feet on seven floors of the trophy tower, owned by IDB Group. Mitchell Steir, John Mambrino, David Goldstein and Matthew Barlow of Studley represented Baker & McKenzie in the transaction. Craig Reicher, Howard Fiddle, James Ackerson, Zachary Freeman, Sinclair Li and Greg Maurer-Hollaender of CB Richard Ellis represented the building owner.
MANHATTAN — Gene Kaufman Architect is designing two new hotels, both developed by Hidrock Realty, in Midtown Manhattan. The company is reinventing the former office building at 960 Sixth Ave. into a Courtyard by Marriott and developing a groundup SpringHills Suites by Marriott at 25 W. 37th St. The 100,000-square-foot Courtyard will include 167 rooms with retail space on the ground floor. The 70,000-square-foot SpringHill Suites will include 173 rooms. The Courtyard is slated for completion in the fall of 2012, while SpringHill is expected to be completed by 2013.
NEW YORK— Colliers International has arranged a 15-year, 74,000-square-foot lease at 175 Varick St. WeWork, a provider of high-end office suites, will take space on multiple floors. Eric Meyer, Richard Plehn and Seth Hecht of Colliers International's New York office represented the landlord, Extell Development Co. Sean Black of Jones Lang LaSalle represented WeWork in the transaction.
BOSTON— Hospitality Properties Trust of Newton, Mass. has agreed to acquire Boston's Sonesta International Hotels Corp. for $150 million. Sonesta's management team will remain in place and continue to run the companies properties, including the 22,000-square-foot Royal Sonesta Hotel in Cambridge. The deal is expected to take place early next year. Deutsche Bank Securities served as financial advisor to Sonesta and Goodwin Procter served as legal counsel to Sonesta in the transaction.
